SOFR vs SPY
Amplify Samsung SOFR ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | SOFR | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.20% | 0.09% | |
| AUM | $453M | $789.1B | |
| Dividend Yield | 4.20% | 1.01% | |
| Holdings | 6 | 505 | |
| YTD Return | +2.30% | +13.68% | |
| 1Y Return | +3.93% | +21.53% | |
| 3Y Return (annualized) | - | +21.44% | |
| 5Y Return (annualized) | - | +13.18% | |
| Volatility (annualized) | 0.3% | 15.3% | |
| Max Drawdown | -0.4% | -56.5% | |
| Fund Family | Amplify ETFs | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | Nov 15, 2023 | Jan 22, 1993 |
SOFR vs SPY Performance
Amplify Samsung SOFR ETF (SOFR) is a ETF from Amplify ETFs and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year SOFR returned +3.93% while SPY returned +21.53%. Year to date, SOFR is up 2.30% versus a gain of 13.68% for SPY.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 0.3% for SOFR. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -0.4% for SOFR and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.21. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
SOFR charges 0.20% per year while SPY charges 0.09%. On a $10,000 position that is $20 vs $9 annually, a gap of $11 per year that compounds over a long holding period. On income, SOFR currently yields 4.20% against 1.01% for SPY.
Holdings Overlap
SOFR and SPY share 0 holdings out of 504 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, SOFR or SPY?
SOFR has an expense ratio of 0.20% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $11 per year of difference.
Which performed better, SOFR or SPY?
Over the past year SOFR returned +3.93% vs +21.53% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (3 years), SOFR annualized +4.58% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, SOFR or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 0.3% for SOFR. Worst drawdown: SOFR -0.4% vs SPY -56.5%.
Should I hold both SOFR and SPY?
SOFR and SPY have a monthly-return correlation of 0.21, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SOFR and SPY?
SOFR and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 504 unique securities.
Which pays a higher dividend, SOFR or SPY?
SOFR yields 4.20% while SPY yields 1.01%, so SOFR currently pays the higher dividend yield.
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